Equities research analysts predict that Range Resources Corporation (NYSE:RRC) will report sales of $643.54 million for the current quarter, Zacks reports. Six analysts have made estimates for Range Resources’ earnings, with the lowest sales estimate coming in at $614.00 million and the highest estimate coming in at $697.69 million. Range Resources posted sales of $253.52 million during the same quarter last year, which suggests a positive year-over-year growth rate of 153.8%. The company is expected to announce its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Range Resources will report full year sales of $643.54 million for the current year, with estimates ranging from $2.20 billion to $2.60 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.76 billion per share, with estimates ranging from $2.66 billion to $2.87 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Range Resources.
Range Resources (NYSE:RRC) last announced its earnings results on Tuesday, October 24th. The oil and gas exploration company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.02. Range Resources had a negative net margin of 2.23% and a positive return on equity of 1.63%. The business had revenue of $482.20 million during the quarter, compared to analysts’ expectations of $543.16 million. The firm’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.06) earnings per share.
Shares of Range Resources (RRC) traded down $0.04 during mid-day trading on Friday, reaching $16.46. 4,434,774 shares of the company’s stock were exchanged, compared to its average volume of 5,979,256. The firm has a market capitalization of $3,923.08, a PE ratio of -78.38 and a beta of 0.91. The company has a current ratio of 0.50, a quick ratio of 0.47 and a debt-to-equity ratio of 0.72. Range Resources has a 12-month low of $15.33 and a 12-month high of $36.40.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.02 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.49%. Range Resources’s payout ratio is currently -38.09%.
In related news, VP David P. Poole sold 30,920 shares of Range Resources stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $16.36, for a total transaction of $505,851.20. Following the sale, the vice president now directly owns 17,647 shares in the company, valued at approximately $288,704.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Roger S. Manny sold 10,757 shares of Range Resources stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $16.42, for a total transaction of $176,629.94. Following the sale, the chief financial officer now owns 143,703 shares in the company, valued at $2,359,603.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,574 shares of company stock worth $729,007. 2.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Range Resources by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 23,202,503 shares of the oil and gas exploration company’s stock worth $537,603,000 after purchasing an additional 976,293 shares during the period. Sanders Capital LLC increased its stake in shares of Range Resources by 4.5% in the 3rd quarter. Sanders Capital LLC now owns 15,485,365 shares of the oil and gas exploration company’s stock valued at $332,679,000 after acquiring an additional 673,214 shares in the last quarter. BlackRock Inc. increased its stake in shares of Range Resources by 6.8% in the 2nd quarter. BlackRock Inc. now owns 14,024,098 shares of the oil and gas exploration company’s stock valued at $324,936,000 after acquiring an additional 890,348 shares in the last quarter. State Street Corp increased its stake in shares of Range Resources by 15.0% in the 2nd quarter. State Street Corp now owns 13,856,976 shares of the oil and gas exploration company’s stock valued at $321,059,000 after acquiring an additional 1,805,404 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its stake in shares of Range Resources by 14.1% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 4,951,343 shares of the oil and gas exploration company’s stock valued at $96,898,000 after acquiring an additional 612,032 shares in the last quarter. Institutional investors and hedge funds own 95.29% of the company’s stock.
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About Range Resources
Range Resources Corporation is an independent natural gas, natural gas liquids (NGLs) and oil company. The Company is engaged in the exploration and production of natural gas, NGLs and oil in the United States. It is engaged in the exploration, development and acquisition of natural gas and crude oil properties located primarily in the Appalachian and North Louisiana regions of the United States.
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